Friday, September 01, 2023 11:41:05 AM
11:00 am ET August 23, 2023 (Zacks) Print
Electra Battery Materials Corporation (ELBM) appears an attractive pick, as it has been recently upgraded to a Zacks Rank #2 (Buy). This upgrade primarily reflects an upward trend in earnings estimates, which is one of the most powerful forces impacting stock prices.
The Zacks rating relies solely on a company's changing earnings picture. It tracks EPS estimates for the current and following years from the sell-side analysts covering the stock through a consensus measure -- the Zacks Consensus Estimate.
The power of a changing earnings picture in determining near-term stock price movements makes the Zacks rating system highly useful for individual investors, since it can be difficult to make decisions based on rating upgrades by Wall Street analysts. These are mostly driven by subjective factors that are hard to see and measure in real time.
As such, the Zacks rating upgrade for Electra Battery Materials Corporation is essentially a positive comment on its earnings outlook that could have a favorable impact on its stock price.
Most Powerful Force Impacting Stock Prices
The change in a company's future earnings potential, as reflected in earnings estimate revisions, has proven to be strongly correlated with the near-term price movement of its stock. The influence of institutional investors has a partial contribution to this relationship, as these big professionals use earnings and earnings estimates to calculate the fair value of a company's shares. An increase or decrease in earnings estimates in their valuation models simply results in higher or lower fair value for a stock, and institutional investors typically buy or sell it. Their bulk investment action then leads to price movement for the stock.
For Electra Battery Materials Corporation, rising earnings estimates and the consequent rating upgrade fundamentally mean an improvement in the company's underlying business. And investors' appreciation of this improving business trend should push the stock higher.
Harnessing the Power of Earnings Estimate Revisio
Recent ELBM News
- Electra and Eurasian Resources Group Sign Cobalt Supply Agreement • Business Wire • 04/02/2024 11:00:00 AM
- Electra Receives Extension from NASDAQ to Resolve Minimum Price Requirement • Business Wire • 03/21/2024 08:40:00 PM
- Electra Provides Corporate Update • Business Wire • 03/13/2024 11:00:00 AM
- Electra Provides Corporate Update • Business Wire • 02/27/2024 11:26:00 PM
- Electra Participating in Upcoming North American Critical Minerals Industry & Investment Events • Business Wire • 02/24/2024 01:00:00 PM
- Electra Provides Corporate Update • Business Wire • 02/13/2024 12:23:00 AM
- Electra Receives $5 Million Grant from Government of Canada to Support the Development of the North American Electric Vehicle Supply Chain • Business Wire • 02/09/2024 08:10:00 PM
- Electra Provides Update on Black Mass Recycling • Business Wire • 02/05/2024 12:00:00 PM
- Electra Appoints Heather Smiles as Vice President, Investor Relations & Corporate Development • Business Wire • 01/15/2024 12:00:00 PM
- Electra Appoints 30-year Finance Veteran as CFO and Provides Financing Update • Business Wire • 12/29/2023 01:13:00 PM
- Electra Appoints Metallurgist with 30 Years of Experience as VP of Technology • Business Wire • 12/05/2023 12:00:00 PM
- Electra Announces Proposed Amendments to Outstanding Warrants • Business Wire • 12/01/2023 10:00:00 PM
- Electra and Rock Tech Lithium sign Lithium Recycling MOU for North American Market • Business Wire • 11/28/2023 12:00:00 PM
- Electra Reports Q3 2023 Results and Provides Update on Battery Material Refinery Project • Business Wire • 11/16/2023 10:00:00 PM
- Electra Provides Notice of Third Quarter 2023 Results Conference Call and Webcast • Business Wire • 11/16/2023 03:30:00 PM
- Electra Postpones Third Quarter 2023 Results Conference Call and Webcast • Business Wire • 11/14/2023 01:45:00 PM
- Electra Provides Notice of Third Quarter 2023 Results Conference Call and Webcast • Business Wire • 11/10/2023 12:00:00 PM
- Electra Announces Voting Results of its 2023 Annual Meeting of Shareholders • Business Wire • 10/25/2023 09:30:00 PM
- Electra Provides Update on Cobalt Refinery Project • Business Wire • 10/23/2023 11:00:00 AM
- Electra to Host Annual Meeting of Shareholders on October 24 • Business Wire • 10/16/2023 11:00:00 AM
- Electra Extends Processing of Black Mass Material Based on Successes of Its Battery Recycling Trial • Business Wire • 10/02/2023 11:00:00 AM
- Electra Receives NASDAQ Notice on Minimum Price Deficiency • Business Wire • 09/22/2023 09:01:00 PM
- Electra Provides Notice of Change of Auditors • Business Wire • 09/19/2023 09:35:00 PM
- Electra Reports Q2 2023 Results and Provides Update on Cobalt Refinery Project and Black Mass Recycling Trial • Business Wire • 08/17/2023 09:01:00 PM
- Battery Materials Stock Steals The Show • AllPennyStocks.com • 07/25/2023 09:35:00 PM
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